The equity marketplace Aktietorget suspects that illegal stock trading took place before the announcement was made that listed Global Gaming Factory X is buying The Pirate Bay.

Global Gaming Factory X, GGF, is listed at the independent equity marketplace Aktietorget. About a week ago Aktietorget shut down the trading with the company’s stock after strangely large trading volumes and rapidly increased stock price - without any news released to explain the sudden interest for the relatively small company.

Soon after the trade was reopened on Tuesday GGF announced that the company was to acquire the filesharing site The Pirate Bay. At lunchtime, the stock had gained 170 percent in value.

Aktietorget now suspects that the news about the acquisition had leaked ahead of the announcement. According to stock market rules, everybody must be given essential information regarding the company at the exactly same time.

“There are reasons to suspect that information was leaked”, said Peter Gönczi, executive vice president at Aktietorget, to business daily Dagens Industri.

Consequently, Peter Gönczi will start an investigation to see if the trading rules have been despoiled.

If the acquisition is completed, Aktietorget might start a further investigation since The Pirate Bay is suspected of committing criminal actions. In April Stockholm's district court sentenced Fredrik Neij, Gottfrid Svartholm, Peter Sunde and Carl Lundström each to a year in jail and ordered them to pay damages of 30 million kronor (€2.72 million, $3.56 million dollars) to the movie and recording industry. The verdict has been appealed to a higher court.

“Aktietorget wants to make sure that the companies that are traded on the list are managing legitimate businesses”, Peter Gönczi said to Dagens Industri.